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Dec 31, 2024
Oil States Q4 2024 Earnings Report
Reported net income with facility sale gain, offset by restructuring charges, and revenues decreased due to lower U.S. land activity and service line exits.
Key Takeaways
Oil States International, Inc. reported a net income of $15.2 million, or $0.24 per share, and Adjusted EBITDA of $18.7 million for Q4 2024 on revenues of $164.6 million. The results included a gain from a facility sale, offset by restructuring charges. Revenues decreased sequentially due to lower U.S. land-based activity and the exit of certain service lines.
Net income of $15.2 million, or $0.24 per share, was reported, including a facility sale gain partially offset by restructuring charges.
Adjusted net income of $5.5 million, or $0.09 per share, was reported, excluding the facility sale gain and restructuring charges.
Consolidated revenues of $164.6 million decreased 6% sequentially, driven by lower U.S. land-based activity and the exit of certain service lines.
Generated cash flows from operations of $18.2 million.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The company is focused on business mix optimization and capital allocation within the Completion and Production Services and Downhole Technologies segments. Strategic efforts are expected to improve U.S. operational performance and enhance U.S. land driven operating margins in future periods.
Positive Outlook
- Offshore and international operations were very resilient in terms of revenue, Adjusted EBITDA and bookings.
- Offshore Manufactured Products segment revenues rose 5% sequentially.
- Adjusted Segment EBITDA for Offshore Manufactured Products rose 6% on a favorable revenue mix.
- Bookings for Offshore Manufactured Products increased 1% sequentially.
- The outlook for offshore and international project-driven businesses remains strong.
Challenges Ahead
- Ongoing declines in U.S. land driven operations due to extensive holiday slowdowns in activity.
- Completions work in the Gulf of America was slow to recover from disruptions.
- Highly cyclical nature of select U.S. service lines.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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